Search results

1 – 10 of 381
To view the access options for this content please click here
Article
Publication date: 6 June 2019

Daniel J. McCarthy, Sheila M. Puffer and Daniel M. Satinsky

The purpose of this paper is to examine the dramatically changed role of Russia in the global economy since the dissolution of the Soviet Union in 1991, as the Soviet…

Abstract

Purpose

The purpose of this paper is to examine the dramatically changed role of Russia in the global economy since the dissolution of the Soviet Union in 1991, as the Soviet institutions collapsed and were either reformed or replaced in a new Russian institutional landscape. The paper presents a fact-based and balanced view of Russia’s evolving role in the global economy, as distinguished from the sometimes one-sided view presented by some Western commentators. The authors establish that the two countervailing views are fundamentally based on different cultural perspectives about institutions, primarily the roles of business and government.

Design/methodology/approach

This paper is developed as a perspectives article drawing upon the decades of academic and business experience of all three authors with Russian business, management and the economy. The paper focuses on the structure of Russian institutional change and places it within the historical context of the challenges of various periods of time from the late 1980s to the present. The authors posit that cultural foundations complicate that institutional evolution.

Findings

Russia will remain a major player in world markets for energy, raw materials and armaments for the near future at least. Principal institutional questions facing Russia have to do with how to reduce the country’s overall dependence on raw material exports, with its vulnerability to world market fluctuations, and how to modernize Russian economic and political institutions. The degree of success in addressing these questions will depend largely upon the ability of the new and reformed economic institutions to show the flexibility to respond to changes in the global order, on whether political considerations will continue to supersede economic issues, and how markedly cultural traditions will continue to impede positive changes.

Research limitations/implications

The entire system of international trade is under question, disrupted by the growing nationalism that is threatening the globalization that became institutionalized over decades in the wake of the Second World War. Russia’s future role is partially dependent upon how new patterns of international trade develop in response to the current disruption of established trade regimes, and by how political conflicts are expressed economically. The authors observe that Russia’s historical and cultural traditions, especially acquiescence to a highly centralized government with a strong autocratic leader, limit the country’s options. The authors explore how Russia’s reactions to Western sanctions have led to a new strategic approach, moving away from full engagement in the global economy to selective economic, and sometimes political, alliances with primarily non-Western countries, most notably China. The authors contrast Russia’s situation with that of China, which has been able to make substantial economic progress while still embracing a strong, centralized political institutional structure.

Originality/value

Many Western analysts have viewed Russian institutional evolution very critically through the lens of Western politics and sanctions, while Russia has continued along its own path of economic and institutional development. Each view, the authors argue, is based upon differing cultural perspectives of the roles of business and government. As a result, a distinct difference exists between the Western and Russian perspectives on Russia’s role in the world. This paper presents both points of view and explores the future of Russia’s position in the world economy based upon its evolving strategy for national economic policy. The authors contrast the situations of Russia and China, highlighting how Western-centric cultural views have affected perceptions of each country, sometimes similarly and at times with decided differences.

To view the access options for this content please click here
Executive summary
Publication date: 27 February 2015

RUSSIA/CHINA: India and Pakistan will balance SCO

To view the access options for this content please click here
Executive summary
Publication date: 4 May 2015

RUSSIA/CHINA: Naval drills in NATO backyard will grow

Details

DOI: 10.1108/OXAN-ES199347

ISSN: 2633-304X

Keywords

Geographic
Topical
To view the access options for this content please click here
Executive summary
Publication date: 12 September 2018

RUSSIA/CHINA: Shared interests do not make a new axis

Details

DOI: 10.1108/OXAN-ES238430

ISSN: 2633-304X

Keywords

Geographic
Topical
To view the access options for this content please click here
Executive summary
Publication date: 19 March 2015

RUSSIA/CHINA: Gas delay risks Moscow-Beijing tensions

Details

DOI: 10.1108/OXAN-ES198426

ISSN: 2633-304X

Keywords

Geographic
Topical
To view the access options for this content please click here
Executive summary
Publication date: 11 June 2018

RUSSIA/CHINA: Shanghai states cannot forge strong bloc

Details

DOI: 10.1108/OXAN-ES235358

ISSN: 2633-304X

Keywords

Geographic
Topical
To view the access options for this content please click here
Expert briefing
Publication date: 26 June 2015

This follows Chinese troops' participation in Moscow's May Victory Day event. With Russia's ties with the West currently at their lowest since the end of the Cold War as a…

To view the access options for this content please click here
Executive summary
Publication date: 4 July 2017

RUSSIA/CHINA: Moscow seeks investment

Details

DOI: 10.1108/OXAN-ES221941

ISSN: 2633-304X

Keywords

Geographic
Topical
To view the access options for this content please click here
Executive summary
Publication date: 19 February 2020

RUSSIA/CHINA: Entry ban unlikely to bring reproach

Details

DOI: 10.1108/OXAN-ES250782

ISSN: 2633-304X

Keywords

Geographic
Topical
To view the access options for this content please click here
Executive summary
Publication date: 2 November 2016

RUSSIA/CHINA: China will import Russian arms

1 – 10 of 381